Economics
Singapore Forgoes Adding Stimulus as Growth Tops Forecast
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Singapore joined regional peers in refraining from easing monetary policy further after economic growth last quarter beat analysts’ estimates. The local dollar climbed.
The Monetary Authority of Singapore said Tuesday it will “maintain the policy of a modest and gradual appreciation” without adjusting the pace of its currency’s moves. Gross domestic product rose an annualized 1.1 percent in the three months through March from the previous quarter, the trade ministry said separately. The median estimate in a Bloomberg News survey was 0.2 percent.